Renowned Nigerian entrepreneur and former chairman of MTN Nigeria, Pascal Dozie, has passed away at the age of 85.
His family confirmed in a statement released Tuesday that the respected businessman died on Monday following age-related illness.
Born on April 9, 1939, in Egbu, Owerri, Imo State, Dozie rose from modest beginnings to become one of Nigeria’s most influential corporate figures. He studied economics at the London School of Economics and later earned a Master’s degree in Administrative Science from City University, London.
Dozie began his career at the National Economic Development Office in the UK and worked in various consulting roles before returning to Nigeria in the early 1970s. Upon his return, he founded the African Development Consulting Group (ADCG), offering strategic advisory services to both public and private sector clients.
His most notable achievement came in 1990 when he established Diamond Bank with a startup capital of N10 million. Under his leadership, the bank grew into a major force in Nigeria’s financial sector, known for innovation and strong governance. He served as Chairman and CEO until his retirement in 2006, paving the way for his son, Uzoma Dozie, to take over as CEO. Diamond Bank later merged with Access Bank in 2019, creating one of Africa’s largest financial institutions.
In addition to his impact on banking, Dozie was a founding investor and the inaugural chairman of MTN Nigeria. His vision and leadership were instrumental in the company’s early growth, helping to establish it as the country’s leading telecommunications provider.
Beyond business, Dozie was admired for his integrity, mentorship, and philanthropic work. He served on numerous boards, including the Nigeria Economic Summit Group and the Lagos Business School Advisory Board, and was a key figure in national economic discourse.
Tributes have poured in from across Nigeria and beyond. “Pascal Dozie was a pillar of Nigerian industry,” said Tony Elumelu, Chairman of Heirs Holdings. “His legacy will endure for generations.”
